Keurig Dr Pepper, Inc $KDP Shares Sold by Waverly Advisors LLC

Key Points

• Waverly Advisors cut its Keurig Dr Pepper stake by 83.4% in the second quarter, selling 123,993 shares and retaining 24,677 shares valued at approximately $808,000. Institutional investors collectively own 93.99% of KDP.
• Analyst sentiment remains favorable, with a consensus rating of “Moderate Buy” and an average price target of $34.94. HSBC upgraded the stock to “buy,” while JPMorgan raised its target to $38.
• KDP reported quarterly adjusted earnings of $0.57 per share, beating estimates by $0.03, while revenue reached $7.31 billion and rose 75.6% year over year. The stock opened at $31.58, within its 12-month range of $24.88 to $33.82.

Waverly Advisors LLC lowered its stake in shares of Keurig Dr Pepper, Inc (NASDAQ:KDP - Free Report) by 83.4% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 24,677 shares of the company's stock after selling 123,993 shares during the period. Waverly Advisors LLC's holdings in Keurig Dr Pepper were worth $808,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in KDP. Meeder Asset Management Inc. increased its holdings in shares of Keurig Dr Pepper by 358.0% during the 1st quarter. Meeder Asset Management Inc. now owns 971 shares of the company's stock worth $26,000 after buying an additional 759 shares during the last quarter. Reflection Asset Management acquired a new position in Keurig Dr Pepper in the fourth quarter valued at $35,000. Root Financial Partners LLC boosted its holdings in Keurig Dr Pepper by 86.4% in the fourth quarter. Root Financial Partners LLC now owns 1,907 shares of the company's stock valued at $53,000 after acquiring an additional 884 shares during the last quarter. N.E.W. Advisory Services LLC purchased a new stake in Keurig Dr Pepper during the second quarter valued at about $65,000. Finally, Raiffeisen Bank International AG grew its position in Keurig Dr Pepper by 86.2% during the second quarter. Raiffeisen Bank International AG now owns 2,248 shares of the company's stock valued at $75,000 after acquiring an additional 1,041 shares during the period. Institutional investors and hedge funds own 93.99% of the company's stock.

Wall Street Analysts Forecast Growth

KDP has been the topic of a number of research reports. HSBC upgraded Keurig Dr Pepper from a "hold" rating to a "buy" rating and set a $40.00 price objective on the stock in a report on Thursday, August 13th. Sanford C. Bernstein set a $39.00 target price on shares of Keurig Dr Pepper in a research report on Wednesday, July 8th. Zacks Research lowered shares of Keurig Dr Pepper from a "strong-buy" rating to a "hold" rating in a report on Monday, May 18th. The Goldman Sachs Group raised shares of Keurig Dr Pepper from a "neutral" rating to a "neutral" rating in a research report on Thursday, June 25th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Keurig Dr Pepper from $33.00 to $38.00 and gave the stock an "overweight" rating in a research note on Thursday, July 23rd. Eleven equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat, Keurig Dr Pepper currently has a consensus rating of "Moderate Buy" and an average price target of $34.94.

Keurig Dr Pepper Trading Up 0.6%

KDP opened at $31.58 on Tuesday. The stock has a market capitalization of $42.97 billion, a PE ratio of 31.90, a P/E/G ratio of 1.48 and a beta of 0.40. The firm's fifty day moving average price is $31.16 and its 200 day moving average price is $29.70. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.48 and a quick ratio of 0.28. Keurig Dr Pepper, Inc has a 12-month low of $24.88 and a 12-month high of $33.82.

Keurig Dr Pepper (NASDAQ:KDP - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The company reported $0.57 EPS for the quarter, beating analysts' consensus estimates of $0.54 by $0.03. The firm had revenue of $7.31 billion for the quarter, compared to the consensus estimate of $7.23 billion. Keurig Dr Pepper had a net margin of 7.10% and a return on equity of 10.80%. The firm's revenue was up 75.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.49 EPS. As a group, research analysts expect that Keurig Dr Pepper, Inc will post 2.3 EPS for the current fiscal year.

Insider Transactions at Keurig Dr Pepper

In other news, VP Angela Stephens sold 9,500 shares of the stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $32.70, for a total transaction of $310,650.00. Following the transaction, the vice president owned 55,786 shares of the company's stock, valued at approximately $1,824,202.20. This trade represents a 14.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Mary Beth Denooyer sold 12,000 shares of Keurig Dr Pepper stock in a transaction dated Tuesday, September 8th. The stock was sold at an average price of $32.55, for a total value of $390,600.00. Following the completion of the transaction, the insider owned 84,171 shares of the company's stock, valued at $2,739,766.05. This trade represents a 12.48% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.34% of the company's stock.

Keurig Dr Pepper Company Profile

Keurig Dr Pepper Inc NASDAQ: KDP is a beverage company that operates across the refreshment beverage and coffee categories. The company develops, manufactures, distributes and markets a broad portfolio of soft drinks, flavored beverages, juices, water and mixers, as well as single-serve coffee products and brewing systems.

Its beverage portfolio includes brands such as Dr Pepper, Canada Dry, 7UP, A&W, Snapple, Mott's, Bai and CORE Hydration. In coffee, Keurig Dr Pepper offers Keurig brewing systems, pods and related products under brands including Green Mountain Coffee Roasters and The Original Donut Shop.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.